Lotto: Breakeven EV vs cost of ticket
March 18th, 2019 at 2:19:25 PM
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Lets say the odds are 1M:1 to win the jackpot and tickets costs $2 each.
is $1M or $2M jackpot considered the breakeven EV?
Why?
edit: lump sum
is $1M or $2M jackpot considered the breakeven EV?
Why?
edit: lump sum
Last edited by: 100xOdds on Mar 18, 2019
Craps is paradise (Pair of dice).
Lets hear it for the SpeedCount Mathletes :)
March 18th, 2019 at 2:27:27 PM
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Are you saying a $2 ticket wins 1 mil? Would have to know the HE to say where break even is
Expect the worst and you will never be disappointed.
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March 18th, 2019 at 2:33:39 PM
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The breakeven would be even higher due to deductions for taxes, and the possibility that you would have to share the jackpot. The Wizard has a write up... hereQuote: 100xOddsLets say the odds are 1M:1 to win and tickets costs $2 each.
is $1M or $2M jackpot considered the breakeven EV?
Why?
Edit: If the payout is in an annuity, that has to be figured in too.
Last edited by: Ayecarumba on Mar 18, 2019
Simplicity is the ultimate sophistication - Leonardo da Vinci
March 18th, 2019 at 3:39:52 PM
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Quote: GWAEAre you saying a $2 ticket wins 1 mil? Would have to know the HE to say where break even is
I assume most state lotteries have HE = 50%.
and the jackpot prize was building up till it is now $1M
Craps is paradise (Pair of dice).
Lets hear it for the SpeedCount Mathletes :)
